The Stock Confirmation Letter For Audit is a critical component of the audit process in Singapore, required under the Singapore Standards on Auditing (SSA) and Companies Act. It is typically requested by external auditors during annual statutory audits to obtain independent confirmation of a company's inventory position. The document provides detailed information about stock quantities, values, locations, and ownership status as of a specific date. This confirmation serves as primary audit evidence and helps ensure compliance with Singapore's stringent financial reporting and audit requirements. It's particularly important for companies with significant inventory holdings and those subject to statutory audit requirements.
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1. Letter Header: Company letterhead, date, reference number, and addressee details
2. Purpose Statement: Clear statement that this is a stock confirmation for audit purposes
3. Stock Details: Inventory quantities, values, and locations as of specific date
4. Confirmation Statement: Express confirmation of stock quantities and values
5. Authority Statement: Confirmation of authority to provide this information
6. Signature Block: Authorized signatory details and company stamp
1. Stock Movement Details: Information about recent significant stock movements - used when requested by auditors or for high-value inventory
2. Third Party Stock Declaration: Declaration of stock held by third parties - used when company holds stock at external locations
1. Stock Listing Schedule: Detailed inventory listing with quantities and values
2. Location Schedule: List of storage locations and corresponding stock quantities
3. Valuation Certificate: Supporting documentation for stock valuation methods
Relevant legal definitions
Stock
Inventory
Audit Period
Confirmation Date
Stock Value
Book Value
Physical Count
Storage Location
Third-Party Storage
Consignment Stock
Stock in Transit
Work in Progress
Raw Materials
Finished Goods
Slow-Moving Stock
Obsolete Stock
Net Realizable Value
Cost of Goods
Stock Movement
Cut-off Date
Auditor
Company
Authorized Representative
Verification Process
Stock Records
Inventory
Audit Period
Confirmation Date
Stock Value
Book Value
Physical Count
Storage Location
Third-Party Storage
Consignment Stock
Stock in Transit
Work in Progress
Raw Materials
Finished Goods
Slow-Moving Stock
Obsolete Stock
Net Realizable Value
Cost of Goods
Stock Movement
Cut-off Date
Auditor
Company
Authorized Representative
Verification Process
Stock Records
Clauses
Confirmation Statement
Authority to Confirm
Stock Valuation Method
Stock Location
Stock Ownership
Encumbrances
Third-Party Holdings
Stock Movement
Accuracy Declaration
Cut-off Procedures
Obsolescence Statement
Quality Statement
Representation
Limitations
Confidentiality
Record Keeping
Physical Count Details
Verification Process
Supporting Documentation
Authority to Confirm
Stock Valuation Method
Stock Location
Stock Ownership
Encumbrances
Third-Party Holdings
Stock Movement
Accuracy Declaration
Cut-off Procedures
Obsolescence Statement
Quality Statement
Representation
Limitations
Confidentiality
Record Keeping
Physical Count Details
Verification Process
Supporting Documentation
Relevant Industries
Relevant Teams
Relevant Roles
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